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billion from lenders it did not Alongwith $75 million in cash, the money will be used to refinancse a portion of the commercial real estatr lender and investor’s bridge loan agreemen and senior credit facility. Capmarkl said it obtained a furthefr extension of the maturity date of approximately 94 percent of the outstanding balance under its bridges loan agreement untilMay 21. Capmark last monthy received an extension untilMay 8, saying it wouldc have to file for Chaptet 11 bankruptcy protection if it did not obtain the Citing continued disruptions in the capital and financialk markets and the deterioration of the global Capmark said last month that it lost $1.
1 billiom for the fourth quarter. Capmark asked the U.S. Securitiess and Exchange Commission fora 15-day extensiomn to file its annual report earlier this The Horsham, Pa.-based company said it needeed the extension because of the substantial time it has dedicatedd to negotiating with its lenders to obtain amendments to the bridg loan agreement and senior creditf facility “as well as the uncertainty and range of potentia l outcomes of these negotiations.” Privatel y held Capmark has three core businesses: lending and mortgagwe banking, investments and funds and servicing. It was created in 2006 when Generapl MotorsAcceptance Corp.
sold a subsidiary, then known as GMAC Commercial Holding to aninvestor
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